Investors in Smithfield Foods Inc. are betting Shuanghui International Holdings Ltd. will complete the biggest Chinese takeover of a U.S. company, overcoming a national security review and prevailing over potential rival bidders.
Archer Daniels Midland Co. , the world’s largest grain processor, posted fiscal third-quarter profit that trailed analysts’ estimates as lower prices for sweeteners and starches reduced earnings from processing corn.
The Obama administration granted a request from ethanol producers to increase concentrations of the corn-based fuel additive in gasoline for vehicles made for 2007 and later. Ethanol makers rose in New York trading.
Kellogg Co., the maker of Corn Flakes cereal and Keebler cookies, said third-quarter profit fell 14 percent as it boosted spending to upgrade factories and monitor suppliers more closely. The shares fell the most in three years.